Kuwait apartment rents are falling in popular expat residential areas, iiQ8
Kuwait City, 20th October 2020:
Kuwait apartment rents are falling in popular expat residential areas
The cost of renting an apartment in Kuwait is falling, reversing years of steady increases and outpacing declines even in most popular city areas. The declines apparently reflect the impacts of the coronavirus pandemic on the regional housing market.
According to the Experts, the notoriously expensive rental market has plummeted, even in popular areas such as Salmiya and Hawalli rents were down 15 to 20 per cent with median rents sitting at KD 190 for a one-bedroom apartment and KD 240 for a two-bedroom apartment. As compared to October last year when the rent was KD 230 and KD 280 respectively. While they also pointed out that many building owners resist the idea of reducing the rent to control the decline of rental prices even if many apartments remain vacant.
Mahboula and Khaitan rents were further down by 25 per cent. The median rent for a one-bedroom is KD140 n…
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about Kuwait apartment rents are falling in popular expat residential areas, iiQ8